The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

South African rand flat as central bank seen holding key rate

Thu, 19th Sep 2019 08:05

JOHANNESBURG, Sept 19 (Reuters) - South Africa's rand waslittle changed on Thursday, ahead of the central bank's monetarypolicy decision later in the day where economists expect it tokeep the key rate unchanged.

* The rand was trading at 14.6900 versus the U.S.dollar at 0625 GMT, less than 0.1% stronger than its previousclose.

* The South African Reserve Bank (SARB) was seen keeping therepo rate at 6.5% in a decision expected around1300 GMT, according to the majority of analysts polled byReuters this month.

* South Africa's inflation outlook has been relativelybenign, with price rises well within the SARB's 3%-6% targetrange. But economic growth this year has been sluggish.

* Future rate cuts could hinge on an important credit ratingreview in November, a Reuters poll found.

* Government bonds dipped slightly in early trade, with theyield on the 2026 bond up 4 basis points to 8.25%.(Reporting by Alexander Winning; editing by Uttaresh.V)

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.